Published on 7/18/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $14.04 million contingent income callable notes on three indexes
New York, July 18 – Barclays Bank plc priced $14.04 million of contingent income callable securities due July 18, 2019 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.2% if each index closes at or above its 75% coupon barrier on each day during that quarter.
The notes are callable by Barclays at par on any quarterly determination date other than the final date.
The payout at maturity will be par plus the final coupon unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of the worst performing index.
Barclays is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $14,041,000
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| Maturity: | July 18, 2019
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| Coupon: | 9.2% per year, payable quarterly if each index closes at or above 75% coupon barrier on each day during that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 70% downside threshold, par; otherwise, full exposure to decline of worst performing index
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| Call option: | At par on any quarterly determination date other than final date
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| Initial levels: | 1,428.817 for Russell, 2,459.27 for S&P and 3,525.94 for Stoxx
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| Coupon barriers: | 1,071.613 for Russell, 1,844.453 for S&P and 2,644.455 for Stoxx; 75% of initial levels
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| Downside thresholds: | 1,000.172 for Russell, 1,721.489 for S&P and 2,468.158 for Stoxx; 70% of initial levels
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Agent: | Barclays
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 06744CBJ9
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